Solowin Holdings has completed a $350 million all-stock acquisition of AlloyX, a stablecoin infrastructure provider, folding AlloyX’s team and technology into Solowin’s payments and tokenization roadmap. The Hong Kong-based investment firm says the move accelerates its push into emerging markets and advances a vision for a new financial ecosystem centered on stablecoins.
The transaction brings AlloyX’s stablecoin application platform, real-world asset (RWA) tokenization tools and global payments network under Solowin’s umbrella. The deal includes a 12-month lock-up for AlloyX’s founders and strategic investors and an incentive structure tied to valuation milestones.
Regulatory filings describe AlloyX as an early-stage company with limited operating history that had not generated revenue as of March 31, although the SEC exhibit notes the company has begun earning fees from its payment infrastructure and RWA services. That profile highlights the potential upside of acquiring cutting‑edge capabilities and the execution risk of integrating nascent technology into a larger group.
Stablecoins now support roughly a $280 billion market capitalization, according to DeFiLlama, with Tether’s USDT and Circle’s USDC making up more than 80% of the sector. For Solowin, acquiring AlloyX is a fast track to on‑chain payment rails and tokenization features that could be deployed in markets where stablecoin payments gain traction.
Why it matters: the deal gives Solowin an off‑the‑shelf stack for stablecoin issuance, payments and RWA tokenization — capabilities that can speed regional expansion. Risks remain: AlloyX’s early-stage status, integration challenges, and evolving regulatory scrutiny around stablecoins and tokenized real-world assets could affect timelines and returns.
Source: GlobeNewswire. Read the original coverage for full details.